Manage all your payments seamlessly with IDFC FIRST Bank

Digitalisation has impacted almost all industries that form a part of our everyday ecosystem. Rapid advancements in technology have made things easier and faster. Whether you are making a video call to your friend or calling a technician to fix a faulty gadget, these days, everything can be done in a matter of seconds through the use of digital devices.

When other industries are transforming in the face of global digitalisation, can the banking and finance industry be far behind? Absolutely not. The rise of innovative technologies, together with the increased use of digital devices, has completely changed how the modern banking industry functions.

For example, people are no longer required to visit their bank branches for everyday banking activities. Thanks to online banking, they can make payments on the go, check their account balance on their smartphone, transfer money to anyone from anywhere, apply for a new chequebook, and a lot more.

How online banking can streamline all your payments
 

You would undoubtedly be making multiple payments every month - electricity bills, water bills, mobile/DTH recharge, online shopping, tax return, credit card payments, insurance premiums, etc. There are several payment methods that let you accomplish this.

However, with the online banking facility, you can now make all these payments from the convenience of your home or office. It means you no longer have to wait in long queues at payment counters to settle your electricity bills or tax payments.

There are many mobile banking apps or FinTech apps that can help you complete these payments online. All you need to do is simply download these apps on your smartphone and make your everyday payments without any hassles.

How to manage all your payments in one place
 

Juggling between multiple apps can be a hassle. For example, if you want to book flight tickets, you will need a travel app on your phone. If you want to pay your electricity bill or insurance premium, you will need to download and install the respective apps of your electricity provider or insurance company to make the payment.

But what if you get an opportunity to manage all your payments under a single roof? With IDFC FIRST Bank’s Mobile Banking facility, you can do just that. IDFC FIRST Bank provides mobile banking or online banking facility for both retail and business users. 

Here are some advantages of using the IDFC FIRST Bank Mobile Banking facility for managing your payments:

1. Make all your payments through a single app
 

IDFC FIRST Bank’s mobile banking app brings all your payment schedules under a single roof. Simply download this app on your smartphone and make all your payments, be it your credit card bill, electricity bill, water bill, broadband or mobile bill, online money transfer, tax payment, investment, or insurance premium.

The advantage of doing this is that you won’t have to juggle multiple apps to make your everyday payments. You can simply keep this one app on your smartphone and delete all other mobile payment apps to get some extra storage space.

2. Transfer funds to anyone, anytime

You may need to transfer funds to your friends, family members, employees, or business partners for various purposes. With the IDFC FIRST Bank mobile banking app, you can seamlessly transfer funds from your IDFC FIRST Bank savings account to other IDFC FIRST Bank accounts as well as non-IDFC FIRST Bank accounts.

With the IDFC FIRST Bank mobile banking app, you can make bank transfers through Real Time Gross Settlement (RTGS), National Electronic Fund Transfer (NEFT), or Immediate Payment Service (IMPS). You can also set your transaction level limits and single or multiple layers of approvals for carrying out fund transfers.

This functionality (contactless) is not available in Optimus App as of now.

3. Make investments online 

With the IDFC FIRST Bank mobile banking app, you can make online investments in stocks, mutual funds, fixed deposits, and recurring deposits, among other investment avenues. It is one of the best online payment methods for saving or investing your money. You can check, increase, or redeem your investments anytime, as per your requirements.

You can also check your mutual fund investments, the current values of your investments, and the history of your transactions on the IDFC FIRST Bank mobile banking app.

4. Provide standing instructions for recurring payments
 

You can provide standing instructions for recurring payments such as insurance premiums, credit card bills, and mutual fund SIPs (Systematic Investment Plans) on the IDFC FIRST Bank mobile banking app. This will help you streamline your payments and ensure that you do not miss your payment due dates.

With the IDFC FIRST Bank mobile banking app, you can set fixed standing instructions or variable standing instructions, depending on your payment type. You can also set start and end dates and limit amounts for all standing instructions.

How to Register for IDFC FIRST Bank Mobile Banking
 

You can register for the IDFC FIRST Bank mobile banking facility and get simplified payment services by following these easy steps:

1.    Navigate to the IDFC FIRST Bank website or download the IDFC FIRST Bank mobile banking app

2.    Go to Customer Login under NetBanking

3.    Enter your registered mobile number and customer ID

4.   Validate using your bank account number or debit card number

5.    Enter the One Time Password (OTP) sent to your registered mobile number

6.    Your IDFC FIRST Bank mobile banking facility is now ready for use!

Conclusion

You can manage all your personal and business payments under one roof by downloading the IDFC FIRST Bank mobile banking app on your smartphone. Through this app, you can check your savings account balance, invest in shares and mutual funds, pay insurance premiums, make contactless debit card payments, transfer money to other users, recharge your mobile phone, and do much more.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.